QEP Resources Hits New 12-Month Low Following Weak Earnings (QEP)
QEP Resources (NYSE:QEP)’s share price hit a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement, Analyst Ratings News reports. The company traded as low as $25.93 and last traded at $28.83, with a volume of 18,618,904 shares. The stock had previously closed at $32.02.
The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by $0.06. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $821.40 million.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 7th. Stockholders of record on Tuesday, February 25th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, February 21st.
A number of research firms have recently commented on QEP. Analysts at Howard Weil cut their price target on shares of QEP Resources from $43.00 to $40.00 in a research note on Wednesday. They now have a “sector outperform” rating on the stock. Separately, analysts at Socgen raised their price target on shares of QEP Resources from $36.00 to $38.00 in a research note on Tuesday, February 4th. They now have a “buy” rating on the stock. Finally, analysts at Barclays cut their price target on shares of QEP Resources from $39.00 to $36.00 in a research note on Monday, January 13th. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.55.
The stock has a 50-day moving average of $30.81 and a 200-day moving average of $30.39. The company has a market cap of $5.165 billion and a price-to-earnings ratio of 30.44.
QEP Resources, Inc (NYSE:QEP) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.